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The general topic of this message is Financial Services:
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Subject:
do we need a French Revolution?
To:
Rep. Leonard Boswell
October 21, 2009
How can Wall street say this:
A Goldman Sachs International adviser defended compensation in the finance industry as his company plans a near-record year for pay, saying the spending will help boost the economy. "We have to tolerate the inequality as a way to achieve greater prosperity and opportunity for all," Brian Griffiths, who was a special adviser to former British Prime Minister Margaret Thatcher, said yesterday at a panel discussion hosted by St. Paul's Cathedral in London.
See: http://www.huffingtonpost.com/2009/10/20...
As this chart on worker compensation compared to finacial industry (wall street) compensation shows, while the financial industry compensation went up from 1991 through 2008 by 40times other (main street) compensation did not go up in a like fashion. If this is the case, how can wall street claim that their exorbitant compensation is needed for an economic recovery.
Their claim is simply BS. No bonuses for these people. No excessive compensation. They went nuts and screwed us once and we are going to let them do it again? Yes, we do need another revolution. But .. not the second American revolution that the "Tea Baggers" talk about, we need a French Revolution that eliminates the economic royalty (wall street) and the fawning Aristocrats (the elected who support the royalty to the detriment of the people).
If these greedy bastards wont curb their greed after what they have done to the the American people, then take them over. Nationalize them and kick them out.
Pleasant Hill , IA
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